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Greenberg offloads 27 million AIG shares
Industry legend Hank Greenberg and his Starr companies have sold over 27 million shares in his former company, American International Group (AIG), since May.
27 November 2006
Heritage raises £14.6mn
AIM-listed Heritage Underwriting Agency plc announced on 24 November that it has raised £14.6mn in a share placement.
27 November 2006
SCOR gets another A and completes Revios deal
Resurgent French (re)insurer SCOR has been upgraded back to "A" territory again, this time by Fitch Ratings on 20 November, a day ahead of the closure of its acquisition of life reinsurer Revios.
27 November 2006
The Hartford issues $247.5mn cat bond
US insurer The Hartford Financial Services Group has issued a $247.5mn cat bond, Foundation II, to protect the company in the event of certain US natural catastrophe losses.
27 November 2006
Trio of AIM reinsurance start-ups miss target
Perhaps demonstrating the capital market’s restraint over supporting new reinsurance ventures, a trio of start-ups in the sector that were mooted to list on the London Stock Exchange’s Alternative Investment Market (AIM) look increasingly unlikely to proc
27 November 2006
XL launches Stoneheath; re-gears Cyrus Re
XL Capital, which announced the first of the post-Katrina sidecars Cyrus Re in November last year, has launched a new Cayman Islands special purpose reinsurance vehicle, Stoneheath Re.
27 November 2006
OIL leak costs ex-members $200mn
The nine shareholder members that are departing Oil Insurance Ltd at the end of the year will face a collective bill of $200mn for leaving the energy mutual.
27 November 2006
Kiln forecast improvement
Lloyd’s insurer Kiln plc increased the forecasts on the bulk of its syndicates when it updated the 2004-5 years in a trading statement on 24 November.
27 November 2006
Analyst endorses Omega’s Bermuda move
Omega Underwriting Holdings plc’s move to Bermuda was endorsed by Numis Securities analyst Nick Johnson last week (22 November).
27 November 2006
Harris moves into Lloyd’s as Ward unveils changes
The Lloyd’s Corporation has brought in David Harris - a senior representative of the G6 group of London market insurers – on secondment, as the three-hundred-year-old Society agrees a number of changes to improve the service it provides.
27 November 2006
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